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Futures Close Report: 15th January 2018

US markets closed for Martin Luther King national holiday – limited liquidity across global markets as a result.

UkrAgroConsult cut Ukraine’s 2017/18 maize export forecast by 2.6% to 19 million tonnes owing to competition by abundantly supplied South America.  The consultancy also revised down its forecast of the 2017 maize harvest to 24.7 million tonnes from the previous estimate of 25 million because of a smaller-than-expected maize yield.

Reports of rain on dry areas of Argentina allowing some late planting to proceed.  The Buenos Aires Grains Exchange on Thursday cut its 2017/18 Arg soy planting area estimate to 18 million hectares from a previous 18.1 million, citing dryness in Buenos Aires region.